Provide examples that illustrate how asymmetry of

Reference no: EM13458189

Read Freakonomics by Steven D. Levitt and Stephen J. Dubner. Answer the following questions in separate paragraphs. For each question you must reference the text at least once. 1: What is an incentive? How does it relate to the study of economics?

2: Provide examples that illustrate how asymmetry of information can lead to inefficient outcomes. Explain how the introduction of the element of fear makes the problem of information asymmetry even worse.

3: Based on the examples in the chapter, what does the invention of better and cheaper production methods do to the price and sale of a good or a service?

4: The arguments linking the drop in crime to the robust economy in the 1990's would seem to be quite strong. Provide a brief explanation of what evidence the data provides about the viability of this explanation. What explanation do the authors provide?

5: Describe the difference between normative and positive analysis. What can you learn about the utility of this distinction from this chapter on perfect parenting?

6: What does the data provided on baby names in California tell us about the socioeconomics of naming children?

Reference no: EM13458189

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